Making a mistake on Homestead Filing doesn’t just cost you money once, it costs you money EVERY YEAR that you own your property! It’s not like just getting kicked in the teeth once, it’s like getting kicked in the teeth every November! Not doing so could cost you up to $10,000 per year that you live in your Homestead. Not just for one year, but for EVERY year that you live in your property that is homesteaded. Every $10,000 in lost Homestead Savings costs you about $200 on your annual tax bill which you must pay EVERY YEAR that you own your property. Just forgetting to file for the $50,000 exemption- the most basic task in setting up your Homestead, will cost you about $1,000 per year EVERY YEAR. We have clients that have made mistakes that cost them almost $10,000 per year!